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Author Topic: Gold collapsing. Bitcoin UP.  (Read 1806862 times)
notme
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October 18, 2012, 03:19:01 AM
 #3441

modern day technology makes it feasible to "fill" a gold coin with tungsten

This simply highlights Bitcoin's superior efficiency as a monetary instrument due to lower costs. Of course, bitcoins can still be over or undervalued relative to its competitors based on its value proposition.

It has lower costs in terms of time because quantity and quality can be verified much more quickly than either gold or fiat currency. No drilling for assays and no special pens for detecting counterfeits.

It also has lower costs in terms of money and privacy; pseudo-anonymous, no transaction, storage, etc. fees. When currency controls get ratcheted up in 2014 this will become even more important with Bitcoin acting like invisible monetary glue.

Currently, the largest cost associated with using bitcoins in transactions is time. It is time educating the other party about why bitcoins are currency, safe, securing wallets, learning how to use the new technology, etc. The more of that which gets done the greater the network effects and the faster the time cost with using bitcoins declines.

As the great credit contraction continues those assets which provide safety (gold) and liquidity (bitcoins) will continue rising in value. Due to the nascent nature of Bitcoin it will likely continue outperforming gold; assuming Bitcoin does not become completely worthless from some type of systemic collapse.



Nice plug, but 2 BTC seems a bit high.

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
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molecular
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October 18, 2012, 06:35:33 AM
 #3442

But I agree BTC has the higher chance for gain, while PM's are safer.

Interestingly my brother, who has been reluctant to invest in either BTC nor metals up to recently told me today that he considered the metals to be pretty risky and started putting fiat into bitcoin three weeks ago. While being new to both kinds of "investment", he seems to feel more comfortable with bitcoin than with metals.


Welcome to the Age of the Internet!  Wink  Let me guess; he's probably 14 yo.  Grin

He's in his 30s, has 2 kids.

About the tungsten being as bad as bitcoin somehow hacked: It's even worse: at least with bitcoin we would know, since all "coins" are accounted for. Also: the bitcoin you have can't suddenly turn out to be "fake". With gold, you just don't know until you try to sell to someone who is suspecting enough to check.

PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0  3F39 FC49 2362 F9B7 0769
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October 18, 2012, 11:30:58 AM
 #3443

But I agree BTC has the higher chance for gain, while PM's are safer.

Interestingly my brother, who has been reluctant to invest in either BTC nor metals up to recently told me today that he considered the metals to be pretty risky and started putting fiat into bitcoin three weeks ago. While being new to both kinds of "investment", he seems to feel more comfortable with bitcoin than with metals.


Welcome to the Age of the Internet!  Wink  Let me guess; he's probably 14 yo.  Grin

He's in his 30s, has 2 kids.

About the tungsten being as bad as bitcoin somehow hacked: It's even worse: at least with bitcoin we would know, since all "coins" are accounted for. Also: the bitcoin you have can't suddenly turn out to be "fake". With gold, you just don't know until you try to sell to someone who is suspecting enough to check.


Why molecular; do I sense a preference for Bitcoin over gold?  Omg!

I'm slowly breaking you all down!
molecular
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October 18, 2012, 11:45:02 AM
 #3444

But I agree BTC has the higher chance for gain, while PM's are safer.

Interestingly my brother, who has been reluctant to invest in either BTC nor metals up to recently told me today that he considered the metals to be pretty risky and started putting fiat into bitcoin three weeks ago. While being new to both kinds of "investment", he seems to feel more comfortable with bitcoin than with metals.


Welcome to the Age of the Internet!  Wink  Let me guess; he's probably 14 yo.  Grin

He's in his 30s, has 2 kids.

About the tungsten being as bad as bitcoin somehow hacked: It's even worse: at least with bitcoin we would know, since all "coins" are accounted for. Also: the bitcoin you have can't suddenly turn out to be "fake". With gold, you just don't know until you try to sell to someone who is suspecting enough to check.


Why molecular; do I sense a preference for Bitcoin over gold?  Omg!

I'm slowly breaking you all down!

I have always preferred bitcoin over gold Wink

PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0  3F39 FC49 2362 F9B7 0769
silverbox
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October 18, 2012, 01:48:46 PM
 #3445

There really is a very simple solution for the tungsten problem if it concerns you, it doesn't concern me at all, tungsten is actually very difficult to form and work, because of its extremely high melting temp 6,192 Degrees F (I was melting some just last night in my oven in the kitchen!! Wink). 

Buy Platinum, it has a higher density then W.  If a Platinum coin passes a weight and volume measurement, its the real deal fo' su'e..

I do own Platinum about the same amount as my gold.
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October 18, 2012, 02:16:00 PM
 #3446

But I agree BTC has the higher chance for gain, while PM's are safer.

Interestingly my brother, who has been reluctant to invest in either BTC nor metals up to recently told me today that he considered the metals to be pretty risky and started putting fiat into bitcoin three weeks ago. While being new to both kinds of "investment", he seems to feel more comfortable with bitcoin than with metals.


Welcome to the Age of the Internet!  Wink  Let me guess; he's probably 14 yo.  Grin

He's in his 30s, has 2 kids.

About the tungsten being as bad as bitcoin somehow hacked: It's even worse: at least with bitcoin we would know, since all "coins" are accounted for. Also: the bitcoin you have can't suddenly turn out to be "fake". With gold, you just don't know until you try to sell to someone who is suspecting enough to check.


Why molecular; do I sense a preference for Bitcoin over gold?  Omg!

I'm slowly breaking you all down!

I have always preferred bitcoin over gold Wink

if it wasn't for bitcoin I'd probably have some tungsten filled gold...

thank you Satoshi

miscreanity
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October 18, 2012, 04:08:36 PM
 #3447

Due to the nascent nature of Bitcoin it will likely continue outperforming gold; assuming Bitcoin does not become completely worthless from some type of systemic collapse.

Even if Bitcoin were to drop to zero in terms of other currencies, it would not die - the very concept carries enough merit over existing systems to attribute value.

I'd have to search for what I wrote about this earlier, but the point boils down to this: the larger the system gets, the harder it is to adapt and make changes; if an exodus occurs, modifications are then possible which would allow the system to adjust and strengthen, competing better during a resurgence.
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October 18, 2012, 04:40:21 PM
 #3448

Due to the nascent nature of Bitcoin it will likely continue outperforming gold; assuming Bitcoin does not become completely worthless from some type of systemic collapse.

Even if Bitcoin were to drop to zero in terms of other currencies, it would not die - the very concept carries enough merit over existing systems to attribute value.

I'd have to search for what I wrote about this earlier, but the point boils down to this: the larger the system gets, the harder it is to adapt and make changes; if an exodus occurs, modifications are then possible which would allow the system to adjust and strengthen, competing better during a resurgence.

its called "routing around the problem".
cypherdoc
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October 18, 2012, 05:14:28 PM
 #3449

still can't get a hold of any GPL to short.  silverbox, can i borrow your shares?   Wink
molecular
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October 18, 2012, 06:21:03 PM
 #3450

still can't get a hold of any GPL to short.  silverbox, can i borrow your shares?   Wink

in case you guys need BTC escrow service, I'm here Wink

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October 18, 2012, 06:37:04 PM
 #3451

Gold not doing so well again.  Bitcoin holding beautifully.
cypherdoc
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October 18, 2012, 06:43:04 PM
 #3452

silverbox baaack in the red.
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October 18, 2012, 09:24:51 PM
 #3453

nice reading http://www.dgcmagazine.com/coinabul-a-bitcoin-to-gold-marketplace/

Supporting people with beautiful creative ideas. Bitcoin is because of the developers,exchanges,merchants,miners,investors,users,machines and blockchain technologies work together.
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October 19, 2012, 02:14:04 PM
 #3454

Gold down again.  But so is Bitcoin.

silverbox, we need an update.
cypherdoc
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October 19, 2012, 03:12:45 PM
 #3455

ah yes, the sweet smell of napalm in the morning...
SkRRJyTC
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October 19, 2012, 03:19:39 PM
 #3456

ah yes, the sweet smell of napalm in the morning...

Paper USD burns easily... careful with that napalm.
silverbox
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October 19, 2012, 03:20:37 PM
 #3457


This thread was started 3/13:

Bitcoin  5.40

Gold 1690


Today 10/19:

Bitcoin 11.68 (up ~116%)

Gold 1737   (up ~3%)


PM's and BTC seem kinda stuck/stable.  

BTC is outperforming gold.

Gold remains uncollapsed.

GPL 1.92  (Silver lg  @ 1.98)
cypherdoc
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October 19, 2012, 03:38:27 PM
 #3458


This thread was started 3/13:

Bitcoin  5.40

Gold 1690


Today 10/19:

Bitcoin 11.68 (up ~116%)

Gold 1737   (up ~3%)


PM's and BTC seem kinda stuck/stable.  

BTC is outperforming gold.

Gold remains uncollapsed.

GPL 1.92  (Silver lg  @ 1.98)


gold=1723

time to recalculate.
cypherdoc
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October 19, 2012, 03:40:12 PM
 #3459

ah yes, the sweet smell of napalm in the morning...

Paper USD burns easily... careful with that napalm.

looks like we have a higher low on the daily and we're bouncing.
SkRRJyTC
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October 19, 2012, 03:43:52 PM
 #3460

ah yes, the sweet smell of napalm in the morning...

Paper USD burns easily... careful with that napalm.

looks like we have a higher low on the daily and we're bouncing.

I, for one, welcome another test of the huge resistance @80  Cheesy
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